http://money.cnn.com/2008/07/16/pf/bank_safety/index.htm?section=money_topstories
How safe is your money, and how to protect it
Yes massive bank failures are rare, but not unheard of. Here's what you need to know to shelter your money if it happens to you.
By Jessica Dickler, CNNMoney.com
Last Updated: July 16, 2008: 3:18 PM EDT
NEW YORK (CNNMoney.com) -- The chances are your bank is not going to shut down overnight.
But if you're at all worried about this in the wake of IndyMac's collapse, there are easy ways to eliminate your exposure today.
"This is the portion of your portfolio that's supposed to help you sleep at night not keep you awake," said Greg McBride, Senior financial analyst at Bankrate.com.
The FDIC, short for the Federal Deposit Insurance Corporation, fully insures individual accounts up to $100,000 per deposit per bank, and $250,000 for most retirement accounts.
The FDIC does not cover money invested in stocks, bonds, mutual funds, life-insurance policies, annuities or municipal securities.
More at link...
How safe is your money, and how to protect it
Yes massive bank failures are rare, but not unheard of. Here's what you need to know to shelter your money if it happens to you.
By Jessica Dickler, CNNMoney.com
Last Updated: July 16, 2008: 3:18 PM EDT
NEW YORK (CNNMoney.com) -- The chances are your bank is not going to shut down overnight.
But if you're at all worried about this in the wake of IndyMac's collapse, there are easy ways to eliminate your exposure today.
"This is the portion of your portfolio that's supposed to help you sleep at night not keep you awake," said Greg McBride, Senior financial analyst at Bankrate.com.
The FDIC, short for the Federal Deposit Insurance Corporation, fully insures individual accounts up to $100,000 per deposit per bank, and $250,000 for most retirement accounts.
The FDIC does not cover money invested in stocks, bonds, mutual funds, life-insurance policies, annuities or municipal securities.
More at link...